The Associated Chambers of Commerce and Industry of India (Assocham) honored Bharti AXA General Insurance with this recognition for its excellence and contribution to the non-life insurance sector during the recently-held Insurance Leaders Meet 2019 (Regulation, Disruption and Product Dynamics) and Excellence Awards in Kolkata.
Customer centricity, multifunctional technology and digital integration and cost-effective operational excellence helped the company win the award, which recognises efficacy, excellence and contribution in the insurance industry annually.
"ASSOCHAM Non-Life Insurer of The Year Award is a testimony to the trust reposed in the company by its customers, stakeholders and the industry as well," said Sanjeev Srinivasan, Managing Director and Chief Executive Officer, Bharti AXA General Insurance.
"We view this recognition as an added responsibility towards our customers and stakeholders and will continue to meet their needs through our wide range of products, customer ease, technology-driven innovative services and structured processes," Srinivasan said.
Bharti AXA General Insurance, a joint venture between Bharti Enterprises and French insurance giant AXA, recorded a 32 per cent increase in gross written premium in the first-three quarters this fiscal to Rs 1,665 crore as compared to Rs 1,262 crore in the same period of 2017-18.
The company has achieved significant distribution scale with a sharp focus on profitability. It posted its maiden profit in the first nine months of the current financial year 2018-19.
The company, which has its distribution footprint in 27 states and four Union Territories across the country, has entered into successful associations with leading banks and financial institutions, multiple auto-mobile dealerships and digital fin-tech organisations.
Apart from achieving lean operations with various innovations and optimisations undertaken in operations and customer service, including extensive use of robotics, the company has substantially scaled up its product portfolio with addition of nearly 30 new products.
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